Elon Musk’s SpaceX is advancing plans for an initial public offering that could raise well over $30 billion and target a valuation near $1.5 trillion, according to Bloomberg. If completed, it would be the largest IPO ever by market capitalization.
At a company of this scale, even relatively modest holdings make an impact. SpaceX isn’t just about rockets and satellites—it also maintains a significant cryptocurrency portfolio. Blockchain analytics firm Arkham Intelligence identifies a cluster of SpaceX wallets containing roughly 3,991 BTC, worth about $369 million at current prices near $92,500 per bitcoin. Managed via Coinbase Prime custody, the holdings have fluctuated over the years, surging during the 2021–2022 crypto bull run, dropping afterward, and gradually rebuilding through 2024 and 2025.
Recent on-chain activity shows two transfers of just over 1,000 BTC each in the past week, alongside smaller internal movements, likely reflecting internal reallocations rather than market buys or sales.
Musk’s connection to crypto remains strong. SpaceX previously accepted dogecoin for its DOGE-1 lunar mission, and Tesla continues to hold significant bitcoin reserves. These ties continue to draw market attention to SpaceX developments.
An IPO would provide Musk with fresh capital to expand Starlink and develop chip-heavy space data centers, potentially broadening his influence across sectors linked to AI and crypto infrastructure. Early data from prediction market Polymarket shows strong confidence in the company, with investors assigning a 67% probability that SpaceX’s IPO valuation could surpass $1 trillion.
